Can everyone benefit from innovation?

Chambers, C. P. and Hayashi, T. (2020) Can everyone benefit from innovation? Journal of Mathematical Economics, 88, pp. 187-191. (doi: 10.1016/j.jmateco.2020.02.001)

[img] Text
210675.pdf - Accepted Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.



This paper investigates whether there is an allocation rule for which innovation never hurts anyone. Existing studies provide possibility characterizations together with efficiency and a natural participation constraint, assuming the domain of one input good and one output good in which nobody prefers to consume more of the input good than what she has. We show that this possibility result does not survive and we lead to impossibility either when (i) somebody wants to consume the input good more than what she has; or when (ii) there are multiple input goods.

Item Type:Articles
Glasgow Author(s) Enlighten ID:Hayashi, Professor Takashi
Authors: Chambers, C. P., and Hayashi, T.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Journal of Mathematical Economics
ISSN (Online):1873-1538
Published Online:19 February 2020
Copyright Holders:Copyright © 2020 Elsevier B.V.
First Published:First published in Journal of Mathematical Economics 88:187-191
Publisher Policy:Reproduced in accordance with the publisher copyright policy

University Staff: Request a correction | Enlighten Editors: Update this record